Caxton Associates
 |
|
| Industry | Investment management |
|---|---|
| Founded | 1983 |
| Headquarters | New York, New York[1], U.S. |
| Area served | Worldwide |
| Products | Hedge funds |
| AUM | $8.9 billion (2010) |
| Employees | 272 (2010) |
| Website | www.caxton.com |
Caxton Associates is a global macro hedge fund founded by Bruce Kovner in 1983 headquarted in New York city.[1][2] As a global macro hedge fund Caxton Associates identifies investments according to their research of global markets and analysis worldwide economic trends.[3]
Contents |
[edit] History
Kovner trained under Michael Marcus at Commodities Corporation (now part of Goldman Sachs International), before embarking on his own with the founding of Caxton.[4]
In 1992, Caxton closed its fund to new investors.[4]
It was reported that at the end of the 1990s Caxton Global Investments volatility fell substantially along with the funds returns.[2]
In 2003 concern at Caxton Associates around a potencial future impact on their historical rate of return due to their funds size resulted in 20 percent of investors' capital being returned.[5] Assets under management post 20% were $9.5 billion.[5]
On December 21, 2007, Caxton-Iseman Capital, a joint investment partnership Caxton Associates and Frederick Iseman announced that it had completed its spin-off from Caxton Associates. Caxton-Iseman Capital will change its name to CI Capital Partners LLC.[6]
[edit] 2008 Financial Crisis
During the 2008 financial crisis Caxton Associates did not erect gates freezing investor capital in their Caxton Global Investments fund.[7] As reported the fund saw client redemptions totalling 27% of assets under through 2008-2009—while returning 13% for the year.[7] The redemptions were reportedly born out of cash strapped clients many of whose asset allocations were gated and frozen at other investment management companies: two years later the firm had fallen from No. 16 to No. 51.[7]
In 2010 it was reported that since 1983 Caxton Associates had returned $12.8 billion to clients whilst managing $6 billion; ranking second amongs managers who have returned more than they currently manage.[8][9]
[edit] Company
Caxton Associates' offices are in New York, London's Mayfair district, Sydney, and Princeton, NJ.[10]
[edit] Investments
Caxton Associates is a global macro hedge fund, which its founder Bruce Kovner uses as his personal investment vehicle.[11] The firm is controlled by its majority shareholder, Caxton Corporation, of which Kovner is the sole shareholder.[12]
[edit] Investment Vehicles
The firm's flagship fund was reported in August 2011 to account for $7 billion of Caxton Associates assets under management.[3]
[edit] Rankings
Institutional Investor's Hedge Fund 100
[edit] References
- ^ a b Thomasson, Lynn (February 22, 2010). "Bacon Bullish on Oil, Tepper on Airlines Signal Gains". Bloomberg.
- ^ a b Mackintosh, James (September 10, 2010). "Hedge fund stars shine above the crowd". Financial Times. http://www.ft.com/cms/s/0/981a7710-bcff-11df-954b-00144feab49a.html. Retrieved August 13, 2011.
- ^ a b Zuckerman, Gregory (August 11, 2011). "As Stocks Slide, Investors Scramble". Wall Street Journal.
- ^ a b "Bruce Kovner on Forbes 400". www.forbes. http://www.forbes.com/finance/lists/54/1999/LIR.jhtml?passListId=54&passYear=1999&passListType=Person&uniqueId=6OQE&datatype=Person. Retrieved 2010-04-22.
- ^ a b Taub, Stephen (July 2004). "The Bucks Stop Here Alpha". Alpha.
- ^ Caxton-Iseman Capital Announces Spin-Off From Caxton Associates
- ^ a b c Taub, Stephen (Apr 2009). "The Hedge Fund 100: Our Rankings of the World's Biggest Single Manager Firms". Alpha Magazine.
- ^ "Soros, Paulson Post Biggest Returns Since Inception". FIN Alternatives. September 13, 2010. http://www.finalternatives.com/node/13813. Retrieved 13 August 2011.
- ^ "Hedge Funds: Who Is The Best Of The Best?". Institutional Investor. May 25, 2011. http://www.institutionalinvestor.com/Article/2836953/Search/Hedge-Funds-Who-Is-The-Best-Of-The-Best.html. Retrieved 13 August 2011.
- ^ Taub, Stephen (March 2011). "The Rich List". Absolute Return + Alpha.
- ^ Caxton Associates Website
- ^ "SECURITIES AND EXCHANGE COMMISSION". 10kwizard.com. http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5813568. Retrieved 2010-04-22.
- ^ a b "2003 Hedge Fund 100". www.iimagazine.com. http://www.e-ii.com/images/covers/Institutional%20Investors%202003%20Research%20and%20Rankings%20Yearbook/2003_RandR_Yearbook.pdf. Retrieved 2010-04-22.
- ^ a b "2008 Hedge Fund 100". www.iimagazine.com. http://www.iimagazine.com/Rankings/rankingsHeFu100RGlobal08.aspx?src=http://www.iimagazinerankings.com/rankingsHeFu100RGlobal08/Rankings.asp~PageID--4. Retrieved 2010-04-22.
[edit] External links
|
||||||||||||||||||||||||||||||||||||
